《大行報告》大摩:奢侈品銷售增長加速 看好澳門博彩及內地零售物業股
大摩發表研究報告指,中國奢侈品零售銷售增長由7月的8%,加速至8月17%,相信澳門貴賓廳短期內顯著恢復。該行同時亦看好恆隆地產(00101.HK)、新地(00016.HK)及太古地產(01972.HK),因其在中國零售佔比較大。
該行指,中國奢侈品銷售與澳門貴賓廳業務長久以來有很強的關連性,因應貴賓能業務於過去數月錄得超過90%跌幅,故相信未來數月會有明顯復甦。國內個人遊簽證於9月23日恢復,料10月起賭收會開始改善,預期第四季賭收可以回復至去年50%水平。大摩認為澳門博彩業目前估值吸引。
該行又指,恆隆地產有超過50%的租金收入來自中國,主要是商場,而且大部分走高檔路線,近期需求增加有助續租租金潛在上調;新地亦指7月份上海IFC零售銷售增長50%,8月表現更佳。
在該行覆蓋的股份當中,以太古地產、嘉里建設(00683.HK)及九龍倉(00004.HK)在內地零售佔比最大。
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